tv Business - News Deutsche Welle November 14, 2017 4:02am-4:16am CET
can find a way pasta solid swedish defense the game ended goal this and sweden went three one nil on aggregate. at. general electric sees heavy losses in its stock price after announcing deep restructuring plans and cutting the dividend for shareholders will have the reactions from wall street. and british prime minister at the reason may is confident businesses will do well after breaks it but this is leaders are expressing their concerns saying the heartbreaks it would hurt the economy. it's time for business on the w m how you know to get us thank you for joining us general electric shares plunged more than eight percent on monday trading investors went on a selling spree after c.e.o. john flannery laid out his restructuring plans which are going to hurt g.e.
has long managed to turn a profit from seemingly incompatible industries but that's all changed so it's going to shrink operations down to three profitable core businesses aviation power and health care practically everything else will be sold off to the tune of twenty billion dollars and flannery is also slashing the dividend only the second time it's done so since one thousand thirty eight the eighth biggest dividend cut in its history will help g.e. avoid a cash crunch. it's of course a big topic and we want to discuss it with our financial correspondent on wall street sophie she mounts the sophie hi good to see you you're at the new york stock exchange where we've seen these reactions eight percent that's actually a very big loss is it that investors are really not betting on g.e.'s future. yeah well that is quite a strong reaction i mean the company is one hundred twenty five years old has a quite diversified portfolio if not fragmented so focusing in streamlining doesn't
sound bad in order to restructure a huge company like g.e. and the long term and coo healy this is the main concept behind this streamlining cutting costs in the short term to improve long term growth and yes that might mean that twenty eighteen is going to be tough but the stock of g.e. has been down forty percent this year alone anyway so no one was really happy with the performance of g.e. before that and before the new c.e.o. came out with this massive restructuring so making g.e. smaller and easier could help growing g.e. in the long term and something else that could potentially help g.e. is that generous tax cut in donald trump's tax reform we've seen some movement there. yeah totally i mean the underlying idea of the macro economic theory behind terms plan is a typical trickle down supply side one meaning helping businesses to save money by
paying less taxes it's going to trickle down to the american people that's what they hope as companies are going to create jobs and raise wages maybe invest and trump is by far not the first american president to think that way regen and bush had the same concept but the only thing that america saw happening was the income gap between poor and rich getting bigger mostly because even the president cannot force companies to spend their money on the american people so both the senate and the house of representatives have laid out their plans so now it is on them to vote for these plans and i think it's going to be a really difficult thing to get through with this tax reform because they don't know. how to find a consonance on these topics so. the york stock exchange thank you very much for this analysis. and speaking off tough projects the reason mais meeting with european business leaders this monday must have been rough businesses in and
outside of the u.k. are getting increasingly agitated they see that negotiations are going nowhere and not knowing how relations between the u.k. and the e.u. will look like in the future they are demanding answers if only life was as easy as these demonstrators in the center of london was saying on monday. next it's not a good day oh it's never too late for the boy prime minister to resign milieu agrees but the country is still hurtling towards bragg's it on the twenty ninth of march twenty ninth teen with no deal. nervous european business groups who came to see mrs million downing street and noni concerned with one thing damage limitation they want the british government to back down so the country doesn't fly over the end of a cliff on the day. we've made it clear towards the e.u. commission and the british government that it is in our interest to avoid one thing
the cliff. the end of relations between great britain and the european union you can avoid that if you want to avoid it and we hope we bolster their will to do so today in britain. but the clock is ticking and there's little more than hope right now what will happen to the many cross border companies how many jobs will be lost to research. in the automobile industry parts are delivered from one country assembled in another and then exported on to foreign markets many of these cross border transactions could be subject to british import tariffs in the event of a hard break that they could come to over two billion euros for german products so far britain and the e.u. have not found much common ground but if that doesn't change soon the u.k. could lose a lot of investment some of the big banks have already begun moving their stuff from london to other financial hubs like frankfurt. corporate news now and germany's largest airline last tanzer says it will increase domestic services by
a thousand new flights a month and also promised cheaper fares areas have gone up since the where a big part of air berlin and now bankrupt airlines with flights frequently booked out of tender says that's because just waiting until brussels approves the takeover till then it can't offer what were originally air berlin flights resulting in bottlenecks and high prices of towns as even with jumbos between berlin and friendly. and a peruvian farmer has successfully appealed a german regional court's decision claiming damages from wild germany's biggest energy companies are w. eat he blames them for climate change now the judge said in his decision that the planning is eligible for damages but has to prove. is responsible for that. the man who some say could challenge climate changes traveled over ten thousand kilometers from his hometown in peru to hamburg germany. comes from whereas in the
peruvian andes the village is threatened by melting glaciers that could potentially cause severe floods destroying crops and leaving thousands without a place to live lou you know once those responsible for global warming to pay for a dam to protect his village his first time get is germany's energy giant w e. he accuses the utility of significantly contributing to the problem with its greenhouse gas emissions. and they do with most that nothing has changed in the peruvian mountains the glaziers keep melting it's only getting worse. but succeeding in the courts isn't easy the years lawsuit has already been dismissed in the district court in essen where r. w. e. has its headquarters the company argued that places melting in the andes can be traced back to its activities since many other agents like cars and planes could also be causing climate change. lou your hopes his appeal will now convince
a higher court and eventually force those who he thinks are threatening him and his people to help alleviate the damage. to the philippines now which is now the world's number one and call centers thanks to a young and sleek west generation. a graduation party at the university of the east in manila. ryan bar none is here with his mother she raised five children all by herself. i can't describe the happiness i've worked very hard to make a good education possible ryan has been working hard since his father died. in order to pay for his studies as an electrical engineer ryan has been working evenings in a call center for five hundred thousand students who graduate every year the outsourcing industry creates work and away up the career ladder. like think sixty or at the years now. at night groggy workers turn up to the call
center. or be anything else that i can assist you with. midnight in manila is lunch time in the u.s. where the customers are going. if they have any problems for the product they can call twenty four seven they get help from people in manila like ryan barr lon he wants to be an electrical engineer the night shifts are wearing him down i go to work at night and then i go to school in the morning and many don't know who i am how i have done it. it's no idea. the outsourcing industry generates over twenty two billion euros and employs over a million people in the last decade alone the industry has grown by up to thirty percent and makes up eight percent of the country's g.d.p. manager my loose of us john is proud of her workers they have this and but they
they are able to turn it around from an i recall or they turn it into making sales . mary shell santos works in a call center to the filipino extended family works like a security net for the difficult working hours she's living with her children her parents and her aunt. and just got sick last week. they were. the breadwinner in the family. the well. she earns three hundred eighty euros a month at the call center double the minimum wage for mary shell santos who dropped out of school it's good pay. the philippines over six percent economic growth but one in five lives in poverty the call centers are fueling development the international consumer protection agency as g m s employs over six hundred people to support the back office. we get this process on an admin
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